The TJX Companies, Inc. is the leading off-price retailer of apparel and home fashions in the United States and worldwide, ranking 119 in the most recent Fortune 500 listings and ranked #1 on The Boston Globe 2010 Globe 100 list. With over $20 billion in revenues in 2009, more than 2,700 stores in six countries and approximately 154,000 Associates, we see ourselves as a global, off-price value retailer. Our off-price mission is to deliver a rapidly changing assortment of quality, brand name merchandise at prices that are 20-60% less than department and specialty store regular prices, every day. Our great values and exciting treasure-hunt shopping experience appeal to a broad range of customer income demographics. Our target customer is primarily focused on a middle- to upper-middle-income shopper who is fashion and value conscious and fits the same profile as a department or specialty store shopper. TJX's chains include T.J. Maxx, Marshalls, and HomeGoods in the U.S.; Winners, HomeSense and STYLESENSE in Canada; and T.K. Maxx and HomeSense in Europe.
TJX is an unconventional retailer with global growth potential! Our stores have "no walls" between departments and our business model is extremely flexible. This enables us to move our inventory dollars from one category to another very quickly as customers’ tastes change and we navigate through various economic and retail cycles. Our inventories turn rapidly, which helps us maintain strong merchandise margins. We source merchandise globally and operate more like a sourcing machine than most retailers. We believe our customer demographic reach and age appeal are some of the widest in apparel retail. We are one of the very few U.S. retailers to have expanded successfully in Europe, where we continue to have major growth potential. These elements have been at the root of our consistent, successful performance. In our 33-year history, we have delivered steady earnings growth, some of the highest returns on investment in retail, and seen only one year with an annual comparable store sales decline. These factors also give us great confidence in our ability to sustain strong profitability and continue our global growth.
In 2009, one of the worst economic environments the U.S., Canada and Europe have ever faced, we delivered superior top- and bottom-line results. Customer traffic increased significantly as a whole new group of consumers learned to shop off-price. We ran our business with historically low levels of inventories and significantly reduced our costs, which fueled profitability. We seized the day by taking advantage of the opportunities that the economic environment presented and opened thousands of new vendor doors. We were also one of the few retailers to invest significantly in marketing and enhancing customers’ shopping experience to attract and retain our new customers.
We start a new year with great momentum and are extremely well positioned to capitalize on the value-conscious mindset of consumers. Whether the economy is weak or strong, we believe value is here to stay! We remain focused on running with lean inventories and controlling costs to drive profitability. We have plentiful growth opportunities and plan to accelerate store growth from the 3% level in 2009 to 5% in 2010. Our solid track record of delivering growth with strong financial returns gives us confidence in picking up the pace of growth. Our financial stability and flexibility have always been a strong foundation for our business and are even more critical in uncertain economic times. Our strong operations generate tremendous cash flow, which we deploy with a careful balance between reinvesting in the business and distributing excess cash to shareholders through our share buyback and dividend programs.
We are excited about our growth prospects for 2010 and believe that TJX has many more years of growth to come!
February 2011
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
